A media report says that talks between Hasbro and DreamWorks Animation have faded and the toy company is unlikely to buy the animation studio known for movies such as "Shrek" and "Kung Fu Panda."

Citing an anonymous source familiar with the matter, The Wall Street Journal reported late Friday that the talks, which were at a "very early stage," are unlikely to resume. Representatives for Hasbro and DreamWorks did not immediately respond to requests for comment Saturday afternoon.

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Hasbro had said earlier this week when the talks were first reported that it does not comment on rumors or speculation.

DreamWorks was also reported to be in discussions with Japanese telecommunications and Internet company Softbank about a possible buyout or some type of partnership.